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The Dollar is rising as the losses of global equity markets worsen
February 07 2018 12:00 PM
February 07 2018 12:00 PM
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Baghdad Post
The currency markets were little moved by panic such as the one that dominated global equity markets on Tuesday as the dollar rose slightly while safe haven currencies such as the Swiss franc and the Japanese yen found it difficult to hold on to their early gains.
A sell-off in global equity markets prompted investors to buy the dollar yesterday, helping the US currency recover after a long period of weakness against the euro, sterling and commodity-linked currencies.
But early European trade today saw less strong moves.
The greenback was slightly higher against currencies including the euro, as the single currency fell 0.1 percent to $ 1.2358, down from a session high of $ 1.2435.
The yen, which usually attracts investors in times of market tension, has risen, but gains have been limited. The yen rose just 0.2 percent against the dollar by 11:57 GMT, after rising 0.7 percent to a one-week high earlier.
The Swiss franc fell 0.4 percent against the euro to 1.1577 francs per euro.
The Australian dollar fell 0.4 percent to $ 0.7850, while sterling fell 0.4 percent to touch a session low of $ 1.39.
A sell-off in global equity markets prompted investors to buy the dollar yesterday, helping the US currency recover after a long period of weakness against the euro, sterling and commodity-linked currencies.
But early European trade today saw less strong moves.
The greenback was slightly higher against currencies including the euro, as the single currency fell 0.1 percent to $ 1.2358, down from a session high of $ 1.2435.
The yen, which usually attracts investors in times of market tension, has risen, but gains have been limited. The yen rose just 0.2 percent against the dollar by 11:57 GMT, after rising 0.7 percent to a one-week high earlier.
The Swiss franc fell 0.4 percent against the euro to 1.1577 francs per euro.
The Australian dollar fell 0.4 percent to $ 0.7850, while sterling fell 0.4 percent to touch a session low of $ 1.39.
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